As per my own observation, the type of business, location, those target audience, while they can be important to consider in building a business, but the most crucial thing to consider first is that if you have a sufficient amount of capital that you will use to make your business comes into possibility.
Money is the most essential thing, that’s why those who don’t have enough amount of funds have been delaying their business, while those who have prepared good amount can easily start setting up their business.
The most important thing is yourself, not money. You might misunderstand, but if you lack the knowledge and skills, it will be very difficult. Even if you have money, we won't know strategic locations, audiences, product quality, service, marketing, and so on. We must understand and practice them to be able to sell a service or product in the future in your business.
Most people focus too much on capital. And the reason most people fail in their businesses is because from the start, they prioritize calculating capital, not calculating various forms of knowledge and strategies in building a business. People are often in a rush because capital is the most difficult thing, so they think unhealthy about what they need before starting a business other than capital.